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Business Development Companies: A Public Form of Private Equity  


Author:  Cynthia M.  Krus.; Lisa A. Morgan.; Darius I.  Ravangard.


Source: Volume 27, Number 02, November/December 2013 , pp.45-54(10)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

Over the past decade, business development companies (BDCs) have become an increasingly popular investment vehicle because of several structural advantages over private equity funds. Of course, there are still securities and tax law rules that BDCs must follow. The authors outline what BDCs are and how they are structured, how they are regulated, and how the BDC model has developed over time, and then briefl y consider the future of this investment vehicle.

Keywords: business development company; BDC; permanent capital; regulated investment company; Investment Company Act of 1940 1940 Act; eligible portfolio company; non-traded

Affiliations:  1: Sutherland Asbill & Brennan LLP; 2: Sutherland Asbill & Brennan LLP; 3: Sutherland Asbill & Brennan LLP.

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